Aegon Life iTerm Insurance Plan is an online term insurance plan which aims to fulfill the protection needs of the policyholder at minimal costs for a secured future.
Key Features OF Aegon Life Term Insurance
This is a purely online term plan
It is a term insurance plan with Single Pay and Regular Pay premium paying options
There is an inbuilt Terminal Illness Benefit under the plan
Details about Premium
Premium in Rupees for a term of 30 years
Grace period: 30 days grace period is allowed for payment of premium
Policy termination or Surrender Benefit: the policy does not acquire Surrender Value for Regular Pay plans. For Single Pay plans, Surrender Value is available only after completion of 3 policy years.
Surrender Value = 70% * Single Premium * (outstanding term / total term)
Free look period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 30 days of receipt of the policy documents, provided there has been no claim.
In case of suicide committed within 12 months of policy inception or revival only 80% of premiums paid are returned to the nominee.
For the Terminal Illness Benefit, illnesses arising out of self-inflicted injuries, alcohol abuse, failure to follow medical advice, HIV and AIDS infection, war, aviation, etc. are excluded.
Additional Features or Riders
The following riders are available under the plan:
Aegon Life AD Rider
Aegon Life iCI Rider
Aegon Life WoP on CI Rider
Aegon Life Women CI Rider
Aegon Life Disability Rider